Price to Earnings (P/E)
since 2005
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Corning Inc. pages available for free this week:
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Return on Assets (ROA) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Calculation
Corning Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) available to common shareholders1 (in millions) | ÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 12, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Corning Inc. Annual Report.
The analysis of the financial metrics over the periods under review reveals several noteworthy trends and fluctuations.
- Share Price (US$)
- The share price experienced considerable volatility throughout the years. Beginning at $24.70 in early 2006, it declined to a low of $10.14 by early 2009, likely impacted by broader market conditions or company-specific challenges. Subsequently, there was a general upward trajectory, reaching a peak of approximately $41.29 in early 2022. However, this was followed by a modest decline, with the price settling at $32.18 in early 2024. This pattern suggests sensitivity to external factors, with eventual recovery and some correction in recent years.
- Earnings per Share (EPS) (US$)
- EPS showed significant variability over the examined timeframe. After starting at $0.38 in 2006, EPS rose substantially to $3.38 in 2009, indicating strong profitability growth during that period. However, the figure exhibits fluctuations thereafter, including a pronounced negative value in early 2018 (-$0.69), which marks a notable loss year. Subsequent years depict irregular recovery phases, with EPS generally remaining positive but not consistently rising, closing at $0.68 in early 2024. This volatility in earnings per share indicates challenges in sustaining consistent profitability.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio demonstrates marked oscillations that reflect changes in both earnings and share price. Early in the period, a high ratio of 65.27 in 2006 dropped sharply to 3.00 by 2009, corresponding with rising EPS and falling share price levels. Later years show P/E ratios fluctuating broadly; a notable absence of data in 2018 complicates interpretation for that year, but ratios peaked again at 68.45 in 2021, indicating elevated investor expectations or possibly an overvaluation relative to earnings. By early 2024, the P/E moderated to 47.27, still relatively high, which suggests continued cautious investor positioning despite lower recent earnings.
Overall, the data reflects periods of significant financial stress and recovery, with share price and earnings exhibiting inconsistent trends. The elevated volatility in P/E ratios throughout the timeline points towards alternating periods of investor optimism and skepticism in relation to the underlying earnings performance.
Comparison to Competitors
Corning Inc., P/E, long-term trends, comparison to competitors
| Corning Inc. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Feb 12, 2024 | ||||||
| Feb 13, 2023 | ||||||
| Feb 14, 2022 | ||||||
| Feb 12, 2021 | ||||||
| Feb 18, 2020 | ||||||
| Feb 12, 2019 | ||||||
| Feb 15, 2018 | ||||||
| Feb 6, 2017 | ||||||
| Feb 12, 2016 | ||||||
| Feb 13, 2015 | ||||||
| Feb 10, 2014 | ||||||
| Feb 13, 2013 | ||||||
| Feb 13, 2012 | ||||||
| Feb 10, 2011 | ||||||
| Feb 10, 2010 | ||||||
| Feb 24, 2009 | ||||||
| Feb 15, 2008 | ||||||
| Feb 27, 2007 | ||||||
| Feb 24, 2006 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Technology Hardware & Equipment)
Corning Inc., P/E, long-term trends, comparison to sector (technology hardware & equipment)
| Corning Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Feb 12, 2024 | ||
| Feb 13, 2023 | ||
| Feb 14, 2022 | ||
| Feb 12, 2021 | ||
| Feb 18, 2020 | ||
| Feb 12, 2019 | ||
| Feb 15, 2018 | ||
| Feb 6, 2017 | ||
| Feb 12, 2016 | ||
| Feb 13, 2015 | ||
| Feb 10, 2014 | ||
| Feb 13, 2013 | ||
| Feb 13, 2012 | ||
| Feb 10, 2011 | ||
| Feb 10, 2010 | ||
| Feb 24, 2009 | ||
| Feb 15, 2008 | ||
| Feb 27, 2007 | ||
| Feb 24, 2006 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
Corning Inc., P/E, long-term trends, comparison to industry (information technology)
| Corning Inc. | Information Technology | |
|---|---|---|
| Feb 12, 2024 | ||
| Feb 13, 2023 | ||
| Feb 14, 2022 | ||
| Feb 12, 2021 | ||
| Feb 18, 2020 | ||
| Feb 12, 2019 | ||
| Feb 15, 2018 | ||
| Feb 6, 2017 | ||
| Feb 12, 2016 | ||
| Feb 13, 2015 | ||
| Feb 10, 2014 | ||
| Feb 13, 2013 | ||
| Feb 13, 2012 | ||
| Feb 10, 2011 | ||
| Feb 10, 2010 | ||
| Feb 24, 2009 | ||
| Feb 15, 2008 | ||
| Feb 27, 2007 | ||
| Feb 24, 2006 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).